The objective of the study is:
1. To conduct a survey on the role of credit insurance in international trade.
2. To how it applies to both export and import trade by analyzing its positive effects.
3. To know what are the pitfalls to trade credit insurance.
4. To understand the attitude of companies regarding obtaining credit insurance.
SCOPE OF STUDY
The scope of my study is limited to Noida. It relates to the study on the role of credit insurance in international trade and also analyzing the attitude of the companies regarding obtaining a credit insurance policy.
RESEARCH METHODOLOGY
METHODOLOGY
Methodology is the first step of any kind of research. It helps to know what we need to do and what not to do. A research problem is said to be some kind of trouble a researcher experiences may it be theoretical or practical and tries to find out the solution for the same.There are two main ways to collect data, which is, primary and secondary.
RESEARCH DESIGN
The training conducted to attain the before said objects was both exploratory and descriptive in nature and has personal interviews based on the questionnaire format.
Data Collection Method:
A) Primary research
• Personal interviews based on pre-decided planned questionnaire, which would be directed to the respondents.
• Personal dialogue with the Company representatives about the various data.
B) Secondary Research
Journals/Brochure of I.R.D.A
Printed Reports
Internet
Sampling Plan:
A) Sampling Unit- Sample unit were various companies and industries dealing in export-import business.
B) Sampling Size - 200
Data Collection Instrument:
• Questionnaire
ABOUT EXPORT CREDIT INSURANCE
Export credit insurance provides a cover to the exporter for products and service...
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...UM FOR THE YEAR 2009-10 AND 2010-11(IN CRORE), DATA TAKEN FROM IRDA:
FOR THE MONTH APRIL-FEBRUARY:
2009-10 731.71
2010-11 782.63
FOR THE MONTH FEBRUARY:
2009-10 70.56
2010-11 70.73
THE POSITIVE IMPACT OF CREDIT INSURANCE: DEFINING ITS ROLE IN INTERNATIONAL TRADE
In order to bring a difference in the short-term finances and the long term viability of any business there has to be an effective credit management so that it helps to minimize the slow payments made by the customers. It is found that there is more to credit management than just collecting cash. Mostly, nowadays credit managers find themselves to be aligned just as similar to the marketing function as to finance. There are many positive aspects of having a credit insurance policy. These can be: customer relationship management, supplier relationships and banking as well as financing relationships.
The Corporation’s objective is to minimize its exposure to credit risk from customers in order to prevent losses on financial assets by performing regular monitoring of overdue balances and to provide allowance for potentially uncollectible accounts receivable. The Corporation has also insured a portion of its outstanding accounts receivable with Export Development Canada.
Allstate insurance is the second largest property and casualty insurance company by premiums in the United States. Allstate insurance handles about 12% of the U.S home and auto insurance market. (Allstate, 2014). Many of Allstate’s customers fall under what one could refer to as a traditional selection of insurance for automobiles. Recently, Allstate has noticed a major shortcoming in lifestyle insurance, which includes coverage for motorcycles, boats, and other recreational vehicles, in comparison to its competitors. The motorcycle insurance sector is a 10.4 billion dollar industry and growing (PRWEB, 2012). The U.S. Department of Transportation website reports some astounding figures, including that 5,370,035 motorcycles were registered three years before the article, 7,138,476 motorcycles registered at the time of the article, and grew to 9,477,243 registered motorcycles at the end of 2012 (NHTSA, 2013). It is obvious as to why Allstate would identify motorcycle insurance as a worthy lifestyle product to devote marketing research dollars into in order to develop new strategies for cornering a share of the market.
Based on the preceding ontological and epistemological assumptions a researcher then makes methodological assumptions. Having decided on exactly what is to be studied the researcher then decides how the research can best be managed thus formulating a plan of action. Considerations include whether the research used should be primary or secondary. Whether one will test an existing hypothesis or whether one will construct a theory after having collated evidence. Finally one can draw conclusions as to which strategy to implement with the ultimate goal of producing the type of knowledge that is required. This then results in the type of method or methods of research to be used.
D.V.G. (a minor) was injured in a one-car auto accident in Hoover, Alabama. The vehicle was covered by an insurance policy issued by Nationwide Mutual Insurance Co. Stan Brobston, D.V.G.’s attorney, accepted Nationwide’s offer of $50,000 on D.V.G.’s behalf. Before the settlement could be submitted to an Alabama state court for approval, D.V.G. died from injuries received in a second, unrelated auto accident. Nationwide argued that it was not bound to the settlement because a minor lacks the capacity to contract and so cannot enter into a binding settlement without court approval. Should Nationwide be bound to the settlement? Why or why not? (Cross 218)
The Insured was found to be a 56-year old Hispanic male, 5’09” in height, weighing 185 pounds, with brown eyes, black hair and wearing a goatee. He wore a white long-sleeved shirt, khaki pants, black leather opened toe men’s sandals and a tan cap. The Insured wore prescription eyeglasses for reading and stated he was right hand dominant. His complexion was pale and his muscle tone appeared to be below that which would be considered average.
As previously stated, a survey should encourage the respondent to answer all questions. Another area of concern is question twenty-one, the question is very long in length and would seem confusing to respondents. Unless the question is pertaining to a sensitive or personal topic, question should be short and to the point approximately 12 words or less (Boynton and Greenhalgh, 2004, pg. 1314). Moreover, questions should be presented that it does not require respondents to search elsewhere within the survey to understand the question (Jenkins and Dillman, 1995). The questionnaire includes an open ended questions, which requires the respondent to freely give their option.
The term methodology refers to the way in which we approach problems and try to find answers and in social science, it applies to how research is conducted, our assumptions, interest and purposes shape which methodology we choose (Steven, 2016:3).Qualitative research is understanding people from their own perspectives, their viewpoint and experiencing reality as they experience it. Qualitative research has many approaches or methods of collecting data and one of them is an interview which I have chosen to explain further based on it as a method of collecting data. The interview is the most common method of data gathering used in qualitative research and it is used in deferent ways by every main theoretical and methodological approach.
The research carried on both quantitative approach and qualitative approach. It began with quantitative approach—questionnaire. Bryman and Bell (2003) asserted that mail or postal questionnaires are most popular forms of questionnaires. Another form—self-completion questionnaire was also common because of the overlap with postal questionnaire to some extent.
Another economist, Douglas Irwin, wrote a book titled “Against the Tide”. The book is an Intellectual History of Free Trade. It is an interesting, educational account of how free trade appeared and of how the concept of free trade has coped with two centuries of attacks and criticism. The behavior of an economy is reflected in the behavior or nature of the individuals and firms that make up the economy. So by studying how the individuals and firms act, we can be able to understand the economy.
Buying car insurance, in comparison to buying a car and completing its legal documentation and registration, is very simple these days. Car insurance is an agreement between the insurance company and the insurance buyer, where the insurance company assures payment for monetary losses due to damage, accidents etc. of the vehicle, for the period the buyer has paid insurance premium. Nowadays, buying an automobile without car insurance is very risky and not advisable. When you begin using your car on the road daily, you are subject to possible accidents that makes you liable to your own life, the passengers in your vehicle and other people on the road. Buying car insurance will not only help you prevent losses but will also keep you free of financial liabilities for a third party damage or injury.
Research is systematic way to find out facts and knowledge as Kothari (2006) has analyzed that research is the pursuit of truth with the help of study, observation, comparison and experiment; the search for knowledge through objective and systematic method of finding solutions to a problem. However there are two types of researches one is by Purpose and other is by method. The type by purpose falls into three categorize such as Basic, Applied and Action Research.
All insurance contracts are fiduciary contracts in other words they involve a level of trust on either side, on the part of the insured and the insurer. Utmost good faith (uberrimae fidei) forms the basis of all such contracts. Both the insurer and the insured must abide by this principle. This essay will examine the role of the insurer and the insured in ensuring full disclosure of all material facts. The disclosure of information is of crucial importance as failure to disclose can render the contract void. We will look at cases where utmost good faith and disclosure of material facts were crucial. The Marine Insurance act 1906 section 17 states “A contract of marine insurance is a contract based upon the utmost good faith, and, if the utmost good faith be not observed by either party, the contract may be avoided by the other party.” This act also stated in section 18 that the duty to disclose falls on the insured because it is only the insured who has full knowledge of the risk and as a consequence failure to disclose by the insured may allow the insurer to avoid the contract. In other words this act puts the onus on the insured to disclose and in doing so prevents fraud but it can also allow the insurer to avoid paying i.e. to get out of the contract if they can show that the insured has failed to disclose.
By interviewing the people through structured format of questionnaire - By interviewing people with the help of structured format of questionnaire through home visit we can come to know the different needs of different people of the community.
Research which is also known as the search for knowledge is an art of scientific search for specific information. According to Clifford Woody, the research includes defining and redefining problems, formulating hypothesis and suggested solutions, collecting, organising and evaluating data, making deductions and reaching conclusion and further testing whether the conclusion will fit into formulating hypothesis. Research Methodology is a scientific and systematic way of finding solution to a problem. In this research, researcher has studied various steps for research like problem along with the logic behind them. For this study, researcher must know various research techniques like mean, mode,
Every research study should describe the methods used for collecting, analysing and interpreting data. Research methodology is a systematic solving of the research problem and includes all the tools and methods used in the research process.